Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 30th, 2021

Ethereum

Ethereum rose by 0.27% on Thursday. Following on from a 3.14% gain on Wednesday, Ethereum ended the day at $2,758.92.

A mixed start to the day saw Ethereum fall to a mid-morning intraday low $2,672.00 before making a move.

Steering clear of the first major support level at $2,614, Ethereum rallied to a mid-day intraday high and a new swing hi $2,800.00.

Falling short of the first major resistance level at $2,826, Ethereum fell back to sub-$2,700 levels and into the red.

Finding late support, Ethereum revisited $2,770 levels before easing back.

At the time of writing, Ethereum was down by 0.16% to $2,754.64. A mixed start to the day saw Ethereum rise to an early morning high $2,770.00 before falling to a low $2,753.84.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to avoid the pivot level at $2,744 to support a run at the first major resistance level at $2,815.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s new swing hi $2,800.00.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $3,000. The second major resistance level sits at $2,872.

Failure to avoid the $2,744 pivot would bring the first major support level at $2,687 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,600 levels. The second major support level at $2,616 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,687

Pivot Level: $2,744

First Major Resistance Level: $2,815

23.6% FIB Retracement Level: $2,158

38.2% FIB Retracement Level: $1,761

62% FIB Retracement Level: $1,119

Litecoin

Litecoin fell by 1.27% on Thursday. Following on from a 0.45% decline on Wednesday, Litecoin ended the day at $255.51.

A mixed start to the day saw Litecoin fall to a mid-morning low $250.51 before making a move,

Steering clear of the first major support level at $249, Litecoin rose to a mid-day intraday high $262.99.

While falling short of the first major resistance level at $268, Litecoin broke through the 23.6% FIB of $262 before hitting reverse.

The reversal saw Litecoin fall to a late intraday low $248.75. Finding support at the first major support level at $249, Litecoin moved back through to $255 levels to limit the loss.

At the time of writing, Litecoin was down by 0.32% to $254.69. mixed start to the day saw Litecoin rise to an early morning high $255.73 before falling to a low $254.69.

Litecoin left the major support and resistance levels untested early on.

http://finance.yahoo.com/

For the day ahead

Litecoin would need to move through the $256 pivot level to support a run at the 23.6% FIB of $262 and the first major resistance level at $263.

Support from the broader market would be needed, however, for Litecoin to break back through to $260 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $265 would likely cap any upside.

In the event of a bounce back, Litecoin could test resistance at $280. The second major resistance level sits at $270.

Failure to move through the $256 pivot level would bring the first majors support level at $249 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$240 levels. The second major support level at $242 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $249

Pivot Level: $256

First Major Resistance Level: $263

23.6% FIB Retracement Level: $250

38.2% FIB Retracement Level: $207

62% FIB Retracement Level: $138

Ripple’s XRP

Ripple’s XRP rose by 2.90% on Thursday. Partially reversing a 3.10% gain from Wednesday, Ripple’s XRP ended the day at $1.39984.

After a mixed start to the day, Ripple’s XRP fall to an early morning intraday low $1.32904 before making a move.

Steering clear of the first major support level at $1.2810, Ripple’s XRP rose to a late morning intraday high $1.41900.

Falling short of the first major resistance level at $1.4440, Ripple’s XRP fell back to sub-$1.35 levels and into the red.

Finding late support, however, Ripple’s XRP moved back through to $1.39 levels to deliver the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.67% to $1.39046. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.40363 before falling to a low $1.39046.

Ripple’s XRP left the major support and resistance levels untested early on.

http://finance.yahoo.com/

For the day ahead

Ripple’s XRP will need to avoid a fall through the $1.3826 pivot level to bring the first major resistance level at $1.4362 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $1.41900.

Barring an extended crypto rally, the first major resistance level and resistance at $1.45 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.50 before any pullback. The second major resistance level sits at $1.4726.

Failure to avoid a fall through the $1.3826 pivot would bring the first major support level at $1.3463 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.30 levels. The second major support level sits at $1.2927.

Looking at the Technical Indicators

First Major Support Level: $1.3463

Pivot Level: $1.3826

First Major resistance Level: $1.4362

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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